Clearwater Capital Advisors LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,007 shares of the iPhone maker’s stock after buying an additional 1,350 shares during the period. Apple accounts for approximately 0.9% of Clearwater Capital Advisors LLC’s investment portfolio, making the stock its 29th biggest holding. Clearwater Capital Advisors LLC’s holdings in Apple were worth $3,945,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Contravisory Investment Management Inc. boosted its stake in Apple by 30.6% during the 4th quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock valued at $97,000 after purchasing an additional 144 shares during the last quarter. CKW Financial Group boosted its stake in Apple by 15.0% during the 4th quarter. CKW Financial Group now owns 807 shares of the iPhone maker’s stock valued at $127,000 after purchasing an additional 105 shares during the last quarter. Selective Wealth Management acquired a new position in Apple during the 3rd quarter valued at about $194,000. Lawson Kroeker Investment Management Inc. NE acquired a new position in Apple during the 3rd quarter valued at about $201,000. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new position in Apple during the 3rd quarter valued at about $201,000. Institutional investors own 57.36% of the company’s stock.
A number of research firms have issued reports on AAPL. Goldman Sachs Group reiterated a “neutral” rating and set a $178.00 price target on shares of Apple in a research note on Tuesday. Credit Suisse Group reiterated a “neutral” rating and set a $209.00 price target on shares of Apple in a research note on Tuesday. HSBC set a $174.00 target price on shares of Apple and gave the stock a “sell” rating in a research report on Monday. Nomura dropped their target price on shares of Apple from $180.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. set a $235.00 target price on shares of Apple and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Three equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Apple has an average rating of “Hold” and an average target price of $211.25.
Shares of NASDAQ:AAPL traded down $3.82 during mid-day trading on Wednesday, reaching $182.78. The company had a trading volume of 27,219,410 shares, compared to its average volume of 30,940,857. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $928.96 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. Apple Inc. has a one year low of $142.00 and a one year high of $233.47.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, April 30th. The iPhone maker reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.09. Apple had a net margin of 22.12% and a return on equity of 51.29%. The business had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $57.40 billion. During the same quarter in the previous year, the firm posted $2.73 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 11.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a dividend of $0.77 per share. This is a boost from Apple’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.08 dividend on an annualized basis and a yield of 1.69%. Apple’s payout ratio is presently 25.86%.
Apple declared that its board has approved a share repurchase plan on Tuesday, April 30th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 7.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Apple news, Director Arthur D. Levinson sold 35,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $210.86, for a total transaction of $7,380,100.00. Following the sale, the director now owns 1,168,283 shares of the company’s stock, valued at approximately $246,344,153.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Luca Maestri sold 51,138 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $196.61, for a total transaction of $10,054,242.18. Following the transaction, the insider now owns 27,448 shares of the company’s stock, valued at $5,396,551.28. The disclosure for this sale can be found here. Insiders have sold a total of 142,549 shares of company stock worth $29,300,960 in the last three months. Insiders own 0.05% of the company’s stock.
Apple Company Profile
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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